"Why is it that other infrastructure, for example water is funded by private sector capital through privately owned, independently regulated utilities but roads in Britain still call on the public finances for funding?" he said.

Mr Cameron spoke of his frustration at Britain’s increasingly poor and ageing infrastructure.

“The truth is, we are falling our competitors. And falling behind the great, world-beating, pioneering tradition set by those who came before us."

He also announced a new feasibility study to develop ways to bring private investment into major roads, which independent experts calculate could be worth up to £100billion.

But he stressed that tolling would not be introduced on existing roads, only on new transport infrastructure.